Although 1991 was not a particularly good year on the financial front, Westmin Resources (TSE) enjoyed an extraordinarily successful year exploring its Myra Falls mine property near Campbell River, B.C.
Earlier this year, the company reported spectacular assay results from drilling in an untested area of the Myra Falls property which hosts the producing H-W and Lynx underground polymetallic mines. This drilling led to the discovery of the Gap zone where grades are considerably higher than ore currently being mined at Myra Falls.
More recent drilling returned impressive values from an area which Westmin believes to be separate from the Gap zone, and probably part of a new, flat-lying, H-W style lens.
The new discovery has tentatively been named the Battle zone, and Westmin has three rigs now drilling the Gap-Battle area.
The latest hole, 14-907 drilled on section 15+85E, returned 11.3 metres (37 ft.) grading 1.9 grams gold (0.055 oz.) and 22.3 grams silver (0.65 oz.) per tonne, plus 2.9% copper, 0.5% lead and 25.1% zinc.
The mineralization encountered in hole 14-907 was about 30 metres (98.4 ft.) south of a previously reported hole (14-906) which returned a 11.7-metre (38.3-ft.) intersection grading 1.0 gram (0.029 oz.) gold and 19.9 grams (0.58 oz.) silver, 2.9% copper, 1.1% lead and 9.5% zinc.
Westmin recently obtained government approvals for a 16-hole surface diamond drilling program to test the eastern extensions of the H-W zones. This program is slated to begin in early January, and is aimed at finding new reserves to extend the estimated 10 years of reserves remaining on the Myra Falls property.
Westmin’s Myra Falls operation has operated for more than 30 years.
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